Accounting Policies of E.com Infotech (India) Ltd. Company

Mar 31, 2015

(i).The financial statement have been prepared in accordance with Indianss
generally Accepted Accounting Principle (GAAP) under the historical
cost convention on the accrual basis except for certain financial
instrument which are measured at fair value. GAAP comprise mandatory
accounting standards notified under section 133 of the companies act,
2013 read together with Rule 7 of the Companies (Accounts) Rules 2014.
the provision of the Companies Act, 2013 and guide line issued by the
securities and exchange Board of India, (SEBI). Accounting policies have
been consistently apply expects Where a newly issue accounting
standards initially adopt or a revision to an existing accounting
standard requires a change in the accounting policy hitherto in use or
different accounting standard required by statute.

(ii) Use Of Estimate:-

The presentation of financial statements in conformity with the
generally accepted accounting principles requires estimate and
assumptions to be made. The affects the reported amount of assets and
liabilities in the date of the financial statement and the reported
amount of revenues and expenses during the reporting period.
Differences between the actual result and estimates are recognized in
the period in which the results are known/ materialized.

(iii) Fixed Assets:-

Fixed assets are stated at cost less accumulated depreciation. Cost is
inclusive of fright, duties (net of tax credits are applicable) levies
and any directly attributable cost of bringing the assets to their
working condition for their intended use.

(iv) Depreciation & Amortisation:-

Depreciation and fixed assets is provided on straight line method (SLM)
on pro-rata basis as per the useful life prescribed in the schedule II
of the companies Act,2013.

The carrying amount of the asset as on 01.04.2014 after remaining the
residual value, has been charged to statement of Profit and Loss were
the remaining useful life of the asset is NIL.

(v) Investments:-

Long term investments are stated at cost. Provision for diminution in
value of long term investment is made only if such delaine is other
than temporary in the opinion of management. Investments other than
Long term investments being current investments are valued at cost or
fair value whichever is lower.

(vi) Provision:-

A provision is recognized when an enterprise has a present obligation
as a result of past events and it is probable that an outflow of
resources will be required to settle the obligation, in respect of
which a reliable estimate can be made. Provision are determined based
on management estimate require to settle the obligation at the balance
sheet date. These are reviewed at each balance sheet date and adjusted
to reflect the current management estimates.

(vii) Treatment Of Contingent Liabilities:-

Contingent liabilities are disclosed by way of notes. Provision is made
in the accounts for those liabilities which are likely to materialize
after the year end till the finalization of accounts and having effect
on the position stated in the balance sheet as at the year end.

(viii) Foreign Exchange Transaction;-

Transactions entered into and concluded during the year in foreign
currency are recorded at the actual exchange rates prevailing at the
time of conclusion of transactions. In respect of transaction covered
by forward exchange contracts, the difference between the forward rate
and the exchange rate on the date of transaction is recognized as
income or expenses over the life of the contracts. Outstanding assets
and liabilities at the year end are converted into Indian rupees as per
FEDAI rate of exchange prevalent on the said date. Exchange rate
Difference arising out of subsequent settlements is dealt in the Profit
& Loss Accounts.

(ix) Taxation:-

Provision for taxation has been made in accordance with the rates of
Income Tax Act, 1961 prevailing for the relevant assessment year.

(x) Deferred Taxation:-

Deferred tax assets and liabilities are recognized for the future tax
consequences attributable to timing differences that result between the
profits offered for income taxes and the profits as per the financial
statements. Deferred tax assets and liabilities are measured using the
tax rates and the tax laws that have been enacted or substantially
enacted at the balance sheet date. Deferred tax Assets are recognized
only to the extent there is reasonable certainty that the assets can be
realized in the future. Deferred Tax Assets are reviewed as at each
Balance Sheet date.

(xi) Revenue Recognition:-

Sales are recognized, net of returns and trade discounts, on dispatch
of goods / delivery of service to Customers.

(xii) Impairment of Assets:-

The Company assess whether there is any indication that any assets may
be impaired at the balance sheet date. If any indication exists, the
company estimates the recoverable amount and an impairment loss is
recognized in the accounts, to the extent the carrying amount exceeds
the recoverable amount.

GENERAL: The Accounts of Company are prepared under the historical cost
convention generally using the accrual method of accounting.

FIXED ASSETS: Fixed assets are stated at cost less depreciation.

The Balance Sheet and Profit &Loss Account are in compliance with the
Accounting Standards referred to in Sub-section (3C) of Section 211 of
the Companies Act, 1956.

REVENUE RECOGNITION: Sales are recognized at the time of billing.

DEPRECIATION: Depreciation has been provided on straight-line method at
the rates and in the manner prescribed in Schedule XI of the Companies
Act, 1956.

8 FOREIGN CURRENCY TRANSACTIONS: Transactions in foreign currency are
recorded at the rates of exchange prevailing at the date of
transaction.

Mar 31, 2013

A Basis of Accounting:

The Financial Statements have been prepared under (he historical cost
convention, on an accrual basis of accounting and in accordance with
the Generally Accepted Accounting Principles in India and comply with
the Accounting Standards prescribed by the Companies (Accounting
Standard) Rules 2006 to the extent applicable and in accordance with
the relevant provisions of the Companies Act 1956.

B Use of Estimates:

The preparation of financial statements in conformity with Generally
Accepted Accounting Principles requires estimates and assumptions to be
made that affect the reported amounts of assets and liabilities and
disclosure of contingent liabilities on the financial statements and
the reported amounts of revenues and expenses during the reporting
period.

C Revenue Recognition

i) Sales is recognized as and when the significant risk & rewards in
respect of goods is transferred to the buyer.

ii) Interest income is recognized on time proportion basis.

F Investments:

Investments that are intended to be held for more than a year, from the
date of acquisition, are classified as long term investment and are
carried at cost less any provision for permanent diminution in value.
Investments other than long term investments being current investments
are valued at cost or fair value whichever is lower.

G Foreign Currency Transactions :

i) The transactions in foreign currencies are stated at the rate of
exchange prevailing on the date of transactions.

ii) The difference on account of fluctuation in the rate of exchange
prevailing on the date of transaction and the date of realization is
charged to the Profit and Loss Account.

iii) Differences on translations of Current Assets and Current
Liabilities remaining unsettled at the year-end are recognized in Die
Profit and Loss Account.

iv) The premium in respect of forward exchange contract is amortised
over the life of the contract. The net gain or loss on account of any
exchange difference, cancellation or renewal of such forward exchange
contracts is recognised in the Profit & Loss Account

H Acco u nti ng fo i Ta xes ot Inco me: - Current Taxes

Provision for current income-tax is recognized in accordance with the
provisions of Indian Income- tax Act 1961 and is made annually based on
the tax liability after taking credit for tax allowances and exemptions

Deferred Taxes

Deferred tax assets and liabilities are recognized for the future tax
consequences attributable to timing differences that result between the
profits offered for income taxes and the profits as per the financial
statements. Deferred tax assets and liabilities are measured using the
tax rates and the tax laws that have been enacted or substantially
enacted at the balance sheet date Deferred tax Assets are recognized
only to the extent there is reasonable certainty that the assets can be
realized in the future. Deferred Tax Assets are reviewed as at each
Balance Sheet date.

I Provisions and Contingent Liabilities:

i) Provisions are recognized in terms of Accounting Standard 29-
''Provisions, Contingent Liabilities and Contingent Assets issued by The
Institute of Chartered Accountants of India (ICAI): when there is a
present legal or statutory obligation as a result of past events where
it is probable that there will be outflow of resources to settle the
obligation and when a reliable estimate of ihe amount of the obligation
can be made.

ii) Contingent Liabilities are recognized only when there is a possible
obligation arising from past events due to occurrence or non-occurrence
of one or more uncertain future events not wholly within the control of
the company or where reliable estimate of the obligation cannot be
made. Obligations are assessed on an ongoing basis and only those
having a largely probable outflow of resources are provided for

iii) Contingent Liabilities are disclosed by way of notes.

J Impairment of Assets:

An asset is treated as impaired when the carrying cost of asset exceeds
its recoverable value. An impairment loss is charged to the Profit and
Loss Account in the year in which an asset is identified as impaired.
The impairment loss recognised in prior accounting period is reversed
if there has been a change in the estimate of recoverable amount.

K Capital Work-in-Progress:

Capital work-in-progress includes outstanding advances paid to acquire
fixed assets and cost of fixed assets that are not yet ready for their
intended use at the year end.

L Change in accounting policy :

During the year ended 31i! March. 2012. the revised schedule VI of the
Companies Act, 1958. has become applicable to the Company, for
preparation & presentation of its financial statements. Except
accounting for dividend on investments in subsidiary companies, the
adoption of Revised Schedule VI does not impact recognition and
measurement principles followed for preparation of financial
statements. However, it has significant impact on presentation and
disclosures made in the financial statements applicable in the current
year.

Mar 31, 2010

1. GENERAL : The Accounts of Company-are prepared under the historical
cost convention generally using the accrual method of accounting.

2. FIXED ASSETS: Fixed assets are stated at cost less depreciation.

3. The Balance Sheet and Profit &Loss Account are in compliance with
the Accounting Standards referred to in Sub-section (3C) of Section 211
of the Companies Act, 1956.

4. REVENUE RECOGNITION: Sales are recognized at the time of billing.

5. DEPRECIATION: Depreciation has been provided on straight-line
method at the rates and in the manner prescribed in Schedule XI of the
Companies Act, 1956.